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Booming personal care and cosmetics market will drive the Corrugated Boxes Market growth

HYDERABAD, TELANGANA, INDIA, November 1, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Corrugated Boxes Market size is forecast to reach US$248.3 billion by 2027 after growing at a CAGR of 5.4% during 2022-2027. Corrugated boxes are used in a wide range of end-use industries as it offers better sustainability and provide excellent protection. The food and beverage industry is one of the largest consumers of corrugated boxes which uses these boxes for the packaging and transportation of various food items. The food and beverage sector expansion globally with increasing investments and production will drive the growth of the market in the forecast period The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/19097/corrugated-boxes-market

Key takeaways:

This IndustryARC report on the Corrugated Boxes Market highlights the following areas -

1. Recycled corrugate material is leading the Corrugated Boxes Market. This material consumes comparatively less energy for manufacturing and helps in achieving higher sustainability making it a suitable choice among manufacturers.

2. The personal care and cosmetics industry will drive the growth of the market in the forecast period. For instance, as per the report by Cosmetics Europe, in 2020, the personal care and cosmetics market in Europe stood at US$ 88.91 billion at retail price, making it the world’s largest market.

3. The Asia-Pacific region will witness the highest demand for corrugated boxes owing to the region’s expanding food and beverage sector. For instance, according to the report by International Trade Association, the food and beverage industry in China accounted for $595 billion in 2019, a 7.8% increase compared to the previous year. This growth rate will increase the requirement of corrugated boxes in the region.

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Segmental Analysis:

1. The slotted boxes segment dominated the Corrugated Boxes Market in 2021 and is growing at a CAGR of 5.8% in the forecast period. This type of corrugated box provides better resistance to rough handling and offers extra product cushioning and stacking strength.

2. The Asia-Pacific region held the largest market share in the Corrugated Boxes Market in 2021 with a market share of up to 34%. The high demand for corrugated boxes is attributed to the region’s expanding food and beverage industry.

3. The food and beverage industry dominated the Corrugated Boxes Market in 2021 and is growing at a CAGR of 6.1% in the forecast period. Corrugated boxes such as folder boxes, rigid boxes, and slotted boxes are broadly used in this industry for the packaging of various food items such as fruits & vegetables, confectionery products, liquid bottles, and many more.

ompetitive Landscape:

The top 5 players in the Corrugated Boxes Industry are -

1. DS Smith
2. Mondi Group
3. WestRock
4. Smurfit Kappa Group
5. International Paper Company

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